L-36 Insurance Survey
Below are the email exchanges on the topic of insurance for an L-36.
L-36 owners, As a result of the Eventide incident I have been looking at my insurance. I have Allstate insurance for a value up to $30,000 for which I pay $180 a year. It is the "up to" that has me wondering as they say it is up to the market value. With an L-36 on Craigs list for $1 and another one in a lien sale unsold for $1500 I shutter to think what they would say the market value is after something happens. I talked to Hagerty insurance (they insure my car) and they would use an out of water survey value as the agreed value. I am happy with the $30,000 number I have on my policy but would not be happy with a $1 market value. The other question I had was answered in that racing is not excluded with Allstate. I am seeking advice and experience on insurance companies. What company is good and what is the value of the insurance and is it an agreed upon value or like mine? Any experience on claims would be great. If I get enough inputs, I will write up a page on L-36.com as a reference so everyone can see the result of this little survey. Allen
A $30,000 is a fair price...I have mine at the same price and cost in Acapulco
We have Winsome insured for $40,000 this was based on an out of water survey. No where near what we have into her. Right now there is an L 36 for sale here in Vancouver asking price 49,000 if I remember correctly.
I nailed Harding Rock several years ago during the MMBA regatta. The bow was badly damaged, seams were sprung back to the chainplates and the mast was cracked from the deck to 12 feet up. Allstate came through for the full $50K of the policy. But it wasn't straight forward.
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